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Plans For Nevada - New Jersey Online Poker Player Pool

Wednesday August 7,2013 :  PLANS TO FORM NEVADA - NEW JERSEY POKER PLAYER POOL?
 
MGM's chief exec says his company is working with the idea
 
The release Tuesday of MGM's second quarter results was notable for both improvements in performance in reducing losses, but also for comments made on the group's internet poker ambitions.
 
CEO Jim Murren told the Reuters news agency that MGM Resorts International is working with Nevada officials on a project that could lead to New Jersey and Nevada combining into one online poker market, establishing better player liquidity for both states. "I think it's likely that in 2014 we'll see a compact between New Jersey and Nevada. We've really been focusing on Nevada's ability to compact with other states, create more liquidity," Murren said in an interview following the company's second-quarter earnings call.
 
The relatively small size of Nevada’s online poker market, and the consequent risk that it may become saturated by too many operators, is a concern previously voiced by Murren and others.
 
Murren's opinion is shared by A.G. Burnett, chairman of the Nevada Gaming Control Board, who told Reuters:
 
"Nevada is striving to do what it can in regards to compacts. We do not jump into the fire without having done a lot of cautious research and study into the particulars of such agreements, and that phase is nearing completion," he said.
 
David Rebuck, who heads up the New Jersey regulator, seemed to support the idea of shared player liquidity, saying that New Jersey anticipates allowing for future growth and development in online gaming through compacts with like-minded states.
 
MGM's Murren told analysts on a call after the earnings announcement that the company has dedicated a team to its online efforts.
 
"We have a big team that is preparing us on a state-by-state basis and on the states that we believe will be the most productive for us. And we've been working with the state of Nevada on their efforts to compact with other states," he revealed.
 
"I think at least 40 of the 50 states are in some stage of debating this internally. The ones most visible are New Jersey, New York State, Illinois and California," he added.
 
"We're providing all the support they ask of us."
 
Reuters reports that analysts project Nevada's online gambling market will yield $50 million to $250 million in annual revenues. The larger and more populated New Jersey is pegged to generate $500 million to $1 billion yearly.
 
MGM and Boyd Gaming have partnered with European online gambling group Bwin.Party to provide software and other services to their online gaming efforts across the U.S., including in both New Jersey and Nevada.
 
Murren's earlier hopes for a federal online poker-only solution across the United States appears to have cooled a little; during his interview he admitted that whilst a federal regime remained his first prize, prospects for such an outcome were "very challenging".
 
He also conceded that rival Caesars Interactive Entertainment would be the next to launch intrastate online poker in Nevada, following in the footsteps of the Station Casino's Ultimate Poker operation, which was first to market over three months ago. But he added that MGM would be following Caesars.
 
MGM Resorts International posted a net loss of $93 million in Q2 2013, improving on the $145.5 million loss from the same period a year earlier.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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